Pew: 61% of Americans see too much economic inequality, with partisan divide

Survey: 44% of Americans struggled to afford basic necessity in past year

A Pew Research survey released Wednesday found 61% of Americans believe there is too much economic inequality in the United States, with the view far more common among Democrats than Republicans. The survey was released the same day the Social Security Administration announced a 3.6% cost-of-living adjustment for 2027, raising the average monthly retirement benefit by about $75 as Americans continue to grapple with rising prices.

The Pew survey found 78% of Democrats and Democratic-leaning independents said there is too much economic inequality, compared with 42% of Republicans and Republican-leaning independents. The same survey found 44% of Americans struggled to afford at least one basic necessity over the past year — including medical care, transportation, housing, or food — with some also reporting they had gotten food from a food bank or pantry.

The Social Security Administration announced Wednesday that nearly 72 million Social Security beneficiaries will see higher payments beginning in January 2027, while approximately 7.3 million Supplemental Security Income recipients will receive increased payments starting December 31, 2026.

“Social security will implement this cost-of-living adjustment for 76 million Americans, giving them greater financial stability,” SSA Commissioner Frank J. Bisignano said Wednesday.

The Guardian reported that social security increases, while meant to keep up with inflation, often do not cover rising costs like healthcare, housing and prescription drugs, particularly for senior citizens.

“Seniors have spent years watching their expenses outpacing their benefits,” Shannon Benton, director of the advocacy group Senior Citizens League, told NBC.

“This provides a little breathing room but won’t undo the damage of what we’ve seen this decade,” Benton said of the adjustment.

The announcement arrived against a backdrop of accelerating inflation. Consumer prices climbed at an annual rate of 3.7% in September, up from 3.4% in August, according to the Bureau of Labor Statistics. Inflation reached its highest level since hitting a three-year peak of 4.2% in May.

Gasoline prices rose 34% from a year earlier, accounting for more than half of the overall price increases, according to BLS data. The Guardian reported that the gasoline increase was driven largely by the US’s war on Iran. Fuel oil costs jumped 74% while air travel prices increased 22.4%, according to BLS.

Aside from the pandemic, September’s inflation rate was the highest recorded ahead of a midterm election since 1990.